Member of Parliament for Bolgatanga Central, Honorable Isaac Adongo has expressed that the founder of the International Central Gospel Church (ICGC), Dr. Mensah Otabil is innocent and should not be blamed for the collapse of the now-defunct Capital Bank.
According to the Minority MP, the inspirational speaker and seasoned preacher did nothing wrong as far as the collapse of Capital bank is concerned. The fall of the Bank has led to the takeover by the Bank of Ghana (BoG) and they have merged it with some other defunct banks to form the now Consolidated Bank.
Dr. Mensah was a Board Chairman of Capital bank and in the wake of the collapse of the financial institution, he has been accused of causing the collapse of the bank with many expressing their disappointment in him. A report named “The Boulders Advisors Report” brought to bear that the preacher is to blame for the collapse of the bank.
In that report, Dr. Mensah Otabil, as board chairman, allegedly gave his blessing to the frittering of a GHS620 million liquidity support from the Bank of Ghana, by diverting same into related parties and businesses with which some board members were affiliated. About GHS130 millions of that money, allegedly went into the setting up of Sovereign Bank – which also collapsed recently.